Ma-Economics Syllabus

SYLLABUS OF M.A. ECONOMICS PROGRAMME UNDER CBCS w.e.f.
2018-2019
COURSES CODES
Sl.No. Codes Paper Number of Credits
CORE COURSES (8)

1 ECC 111 Microeconomics – I 4
2 ECC 211 Microeconomics – II 4
3 ECC 112 Macroeconomics – I 4
4 ECC 212 Macroeconomics – II 4
5 ECC 113 Public Economics 4
6 ECC 114 Development Economics 4
7 ECC 115 Mathematics For Optimization 4
8 ECC 116 Statistics For Economic Analysis 4
OPTIONAL COURSES
9 EC0 117 Labour Economics 4
10 ECO 118 Industrial Relations and Social 4
Security
11 ECO 119 Financial Economics 4
12 ECO 120 Human Resource Management and 4
Development
13 ECO 121 Agricultural Economics 4
14 ECO 122 Agricultural Development in India 4
15 ECO 123 Indian Public Finance 4
16 ECO 124 Theories of Economics Growth 4
17 ECO 125 Environmental Economics 4
18 ECO 126 Introduction to Econometrics 4
19 ECO 127 Options: Theory and Practice 4
20 ECO 128 International Trade and Globalisation 4
21 ECO 129 International Finance 4
22 ECO 226 Advanced Econometrics 4
1
Programme: M. A. Economics
Course Code: ECC 111 Title of the Course: Microeconomics-1
Number of Credits: 4 Total Contact Hours:48
Effective from AY: 2018-19
Prerequisites for Students must have basic knowledge of microeconomics.

the course: Knowledge of mathematics will be an added advantage
Objective: To introduce the students to modern treatment of Contact
microeconomics with applications Hours
Content: .
1.Theory of Consumer Behaviour
Consumer’s tastes: Indifference Curves-Consumer’s choice
and equilibrium-Income and substitution effects- Derivation of 10
demand curve Applications of Indifference curves - Revealed
preference theorem- market demand models-constant elasticity
and distributed lag models.
2.Theory of Production and Costs

Technology of production-production-Production function-
short run and long run-isoquants-Elasticity of substitution-
Homogenous and Homothetic -Cobb Douglas Production 14
function - CES,VES production functions-Recent
developments-Technical progress and production function-
Returns to scale - Choice of least cost combination of inputs.

Costs- Short and long run-The L shaped cost curve. Derivation
of cost function -Duality of cost and production function.
4. The Theory of Competitive Market

Perfect competition - short run and long run equilibrium of the 8
firm and industry. Dynamic changes and industry equilibrium:
demand changes, cost changes and government taxation.
Efficiency in a competitive market.
10
5.Theory of Imperfect Market: Monopoly
Monopoly-price and output determination in monopoly-short
and long run-price discrimination-degrees of price
discrimination-Bilateral monopoly-monopoly and welfare 6 hours
loss-Control of monopoly-
6.Monopolistic Competition
Monopolistic Competition-product differentiation-
Chamberlin’s model-price competition and free entry-
monopolistic competition and excess capacity.
Pedagogy: lectures/ case analysis/assignments/class room interaction
2
References/Read
ings  Baumol W.J (1987), Economic Theory and Operations
Analysis, Prentice Hall of India, New Delhi.
 Cowell A Frank (2006) Microeconomics: Principles
and Analysis, Oxford University Press, New York
 Gravelle Hugh and Ray Rees (2008), Microeconomics,
Pearson Education Inc.and Dorling Kindersely
Publishing Inc., New Delhi
 Heathfield and Wibe,(1987),An Introduction to Cost
and Production Functions, Macmillan, London.
 Hirshleifer,J, A.Glozer and D Hirshleifer (1997), Price
Theory and Applications, Cambridge University Press,
New York
 Jehle Geoffrey A and Philip J Reny (2008), Advanced
Microeconomic Theory, Pearson Education Inc.and
Dorling Kindersely Publishing Inc., New Delhi
 Koutsoyannis,A(1983),Modern Microeconomics,
Macmillan, London.
 Kreps.A(1992) , A Course in Microeconomic Theory,
Prentice Hall of India, New Delhi.
 La manna Manfredi M.A(1997), Readings in
Microeconomic Theory, The Dryden Press, London.
 Landsburg E Stevan (2008), Pricing, South Western
and Centage Learning, New Delhi
 Maddala G.S and Ellen Muller(1989),
Microeconomics: Theory and Applications, McGraw
Hill, Singapore.
 MasColell Andreu, Michel D Whinston and Jerry
R.Green(1995), Microeconomic Theory, Oxford
University Press, Oxford.
 Pashigian B. Peter(1995), Price Theory and
Applications, McGraw Hill, New York.
 Perloff.J.M.( 2001), Microeconomics, Addison -
Wesley Longman, Delhi.
 Pindyck, Robert, Daniel L .Rubinfeld and Prem L
Metha (2009), Microeconomics, Pearson Education
and Prentice Hall of India, New Delhi.
 Sen A (1998),Microeconomics: Theory and
Applications, Oxford University Press, New Delhi.
 Stigler, G(1996), Theory of Price, Prentice Hall of
India, New Delhi.
 Varian, H. R. (1992), Microeconomic Analysis,
Norton, New York.
 Varian, H.R.(1999), Intermediate Microeconomics,
Norton, New York.
Learning
Outcomes 1. The students will be able to understand the factors that
determine consumption and production decisions.
3
2. This course will enable the students to analyse and
understand price , output and efficient functioning of
different markets.
4
Course Code: ECC 211 Title of the Course: Microeconomics-1I
Prerequisite for Microeconomics-1

the course:
Objective: To expose the students to the modern theories of firm, the Contact
analytical tools and complex decision making under non Hours
competitive conditions
Content: .
1.Oligopoly Market Structure
Non Collusive Oligopoly models - Counot, Bertrand, 10
Chamberlin, Sweezy and Stackelberg models-Collusive
models-Cartels and Price leadership models.
2.Managerial Theories of Firm

Baumol’s sales revenue maximisation- Marris maximum rate 10
of growth and profits hypothesis-Williamson’s discretion
model -Behavioural model of Cyert and March-
3.Theory Of Games 8
Framework of Game theory- two person zero sum game-

Dominant Strategies- Non-zero sum games: Prisoners
dilemma-Nash equilibrium- sequential games- repeated
games-. 8
4. General Equilibrium
Factor shares-Technological progress and factor shares-
Product Exhaustion theorems-General Equilibrium- General
equilibrium in production and exchange -Walrasian Model-
Existence, uniqueness and stability of General Equilibrium.
6
5.Information Economics
Information Economics-Adverse Selection and Moral hazards-

Market for Lemons-Pooling and separating equilibrium- 6
signalling and screening-Principal-agent Problem.
6.Linear Programming
Linear Programming-linear programming problem-Feasible
solution, objective function and optimal solution- Simplex
method and iterative procedure.
5
References/Read
ings  Baumol W.J (1987), Economic Theory and Operations
Analysis, Prentice Hall of India, New Delhi.
 Cowell A Frank (2006) Microeconomics: Principles
and Analysis, Oxford University Press, New York
 Gravelle Hugh and Ray Rees (2008), Microeconomics,
Pearson Education Inc.and Dorling Kindersely
Publishing Inc., New Delhi
 Heathfield and Wibe,(1987),An Introduction to Cost
and Production Functions, Macmillan, London.
 Hirshleifer,J, A.Glozer and D Hirshleifer (1997), Price
Theory and Applications, Cambridge University Press,
New York
 Jehle Geoffrey A and Philip J Reny (2008), Advanced
Microeconomic Theory, Pearson Education Inc.and
Dorling Kindersely Publishing Inc., New Delhi
 Koutsoyannis,A(1983),Modern Microeconomics,
Macmillan, London.
 La manna Manfredi M.A(1997), Readings in
Microeconomic Theory, The Dryden Press, London.
 Landsburg E Stevan (2008), Pricing, South Western
and Centage Learning, New Delhi
 Maddala G.S and Ellen Muller(1989),
Microeconomics: Theory and Applications, McGraw
Hill, Singapore.
 MasColell Andreu, Michel D Whinston and Jerry
R.Green(1995), Microeconomic Theory, Oxford
University Press, Oxford.
 Pashigian B. Peter(1995), Price Theory and
Applications, McGraw Hill, New York.
 Perloff.J.M.( 2001), Microeconomics, Addison -
Wesley Longman, Delhi.
 Pindyck, Robert, Daniel L .Rubinfeld and Prem L
Metha (2009), Microeconomics, Pearson Education
and Prentice Hall of India, New Delhi.
 Varian, H.R.(1999), Intermediate Microeconomics,
Norton, New York.
Learning
Outcomes The students will be equipped with the modern
extensions and modifications of the competitive model.
6
Course Code: ECC 112 Title of the Course: Macroeconomics-1
Prerequisites for Nil

the course:
Objective: To understand the role of effective demand in determining Contact
employment, output and interest rates. Hours
Content:
1. National Accounts System:
UN system of accounts, India’s Accounting system, 6
Green Accounting
2. Classical System:
Classical model introduction – Employment, labour, 12
supply – Equilibrium output and employment Money
prices and interest under classical system –
3. Keynesian system:
Simple Keynesian Model – Equilibrium income and 16
changes in equilibrium income. Consumption function
&. Investment function IS-LM model Policy effects on
IS-LM model. Open Economy Macroeconomics
(Mundell-Fleming model).
7
4. Monetarists, New Classical Economics and New
Keynesian:
Restatement of quantity theory, National Rate of
Unemployment Theory-- Philips Curve – short run and
long run, Rational Expectations Theory. New
Keynesian Model – Sticky price, efficiency wage and
Insider – Outsider model.
7
5. Convergence & New Growth Theories:
Logic of convergence and explanations of why
different countries grow at different rates. Empirical
evidence. Endogenous Growth Models of Human
Capital, Endogenous Technology and Product,
Innovation- Increasing Returns to Scale.
Pedagogy: 1. Chalk and talk aided by power-point lectures
2. PC lab exercises
3. Assignments and presentations
4. Group activity
5. MOOC (or similar) Component
References/Read  Charles Jones 2014, Macroeconomics, W.W. Norton.
7
ings  N. Gregory Mankiw, 2015, Macroeconomics
Macmillan
 R. Dornbusch, S. Fishser, R.Startz, 2010,
Macroeconomics Mcgraw Hill
 R.T. Froyen (2014) Macroeconomics: Theories and
Policies, Pearson
 Frederic S. Mishkin, 2016,Macroeconomics: Policy &
Practice. Pearson
Learning By the end of the course, successful students are expected to
Outcomes understand how critical macroeconomic variables like income,
employment, and prices are determined and what are the
factors that influence them.
8
Course Code: ECC 212 Title of the Course: MACROECONOMICS- II
Prerequisites for Students should have completed Macroeconomics 1 or similar

the course: course
Objective: To acquaint the students with the role of money and monetary Contact
policy in determining employment, output and interest rates. Hours
Content:
1. Money and Monetary transmission mechanism
Money-Functions. Channels of transmission mechanism- 6
money and credit transmission mechanism.
2. Demand for Money

Fishers quantity theory of money-Cambridge equation-
Keynesain theory of demand for money-post Keynesain 12
developments-Baumol and Tobin-Quantity theory of
money a restatement-Milton Friedman-Empirical
evidence on demand for money
3. The Supply of Money

Money supply-money multiplier-model of money supply 12
determination-Money supply in India- RBI definitions-
Non Banking Financial Intermediaries and money supply
4. Money and the Theory of Interest Rates

Theories of interest rates-Classical, neoclassical, and 10
Keynesian, Term structure of interest rates-Yield curve-
Theories of term structure of interest rates-Expectation,
Market segmentation, and Preferred habitat theories.
5. Monetary Policy
8
Goals and targets-strategies for monetary policy-
Targeting monetary aggregates-Interest rate targeting-
Intermediate targeting- Money stock versus interest rates.
8. Group activity
References/Read  M Lewis & P Mizen, 2005, Monetary Economics
ings Cambridge University Press
 ,C Walsh, 2010, Monetary Theory and Policy, MIT
Press
9
 R Aliber and C Kindleberger, 2015, Manias, Panics
and Crashes: A History of Financial Crises, Palgrave
Macmillan

Outcomes understand how money and monetary policy influences
income determination and aggregate prices.
10
Course Code: ECC 113 Title of the Course: Public Economics
Prerequisites for NIL

the course:
Objective: To familiarize the students with concepts of welfare Contact
economics, market failure, tax , public expenditure, etc. Hours
Content: 1. General Equilibrium and Welfare Economics
Perfect Competition and Pareto Optimality. Social Welfare 08
Functions. Fundamental Theorems of Welfare. Compensation
Tests.
2. Market Failure 08
Externalities and Market Processes. Market Failure and the
Theory of the Second Best. Information asymmetry and Third
Best Policies.
3. Theory of Public Goods 08

Voting Models - Public goods allocation mechanism and
Efficiency Conditions
4. Theory of Taxation
Principles of Taxation –Principle of Fiscal Neutrality, Excess 08
Burden, Doctrine Principle of Equity, Benefit Principle,
Bowen and Lindhal Models, Ability to pay Principle
5 Application of Taxation Principles in Developing 08

Countries
Meaning, Types and Measurement of Taxable Capacity.
Incidence of Tax- Issues in Efficiency and Equity, Deadweight
losses. Theory of Optimal taxation. 08
6. Theory of Public Expenditure:

Criterion for Public Expenditure- Cost Benefit Analysis,
Social Rate of Discount, Shadow Prices.
References/Read
ings  Atkinson, A. & J. Stigltiz (1980) Lectures in Public
Economics, McGraw Hill,London.
 Aurebach, A. & M. Feldstein (eds) (1987) Handbook
of Public Economics, Vol.I & II, Elsevier, New York.
11
 Baumol, W. J. (Ed.) (2001), Welfare Economics,
Edward Elgar Publishing Ltd. U.K
 Cornes, R. & T. Sandler (1986) The Theory of

Externalities, Public Goods and Club Goods,
Cambridge University Press, Cambridge
 Cullis, J & P. Jones (1999) Public Finance & Public
Choice, McGraw Hill, London.
 Dasgupta, P. & A. Sen and S.Marglin (1972)
Guidelines for Project Evaluation, Unido, Vienna.
 Hindriks J and Gareth D. Myles (2006) Intermediate
Public Economics, Prentice-Hall Of India, Delhi.
 Jha, Raghavendra (1998) Modern Public Economics,
Routledge, London.
 Mundle, S. (ed.) (1997) Public Finance: Policy Issues
for India, Oxford University Press, Delhi.
 Musgrave, R. A. and C. Shoup (Eds.) (1970), Readings
in the Economics of Taxation, George Alien and
Unwin, London
 Myles, G. (1997) Public Economics, Cambridge
University Press, London.
 Nicholas, B. (Ed.) (2001), Economic Theory and the
Welfare state, Edward Elgar, U.K.
 Singh S.K. (1986) Public Finance in Developed and
Developing Countries, S.Chand, New Delhi.
Learning
Outcomes The students will be able to understand the fundamental
theories of public economics, reasons for market failure and
taxation
12
Course Code: ECC 114 Title of the Course: Development Economics
Prerequisites for : Nil

the course:
Objective: To provide students with the essential tools and concepts of Contact
development economics and to enhance the students’ Hours
knowledge of economic problems facing developing countries.
Content: .
1. Growth and Development
Meaning and Criteria – Measures of development – 05
Per Capita Income – Index of Human Development
2. Theories of Economic Development
Rostow’s Stages of Growth- Big Push- Balanced and 12
Unbalanced Growth- Critical Minimal Effort- Ranis Fei
3. Inequality and Development 06
Measures of Inequality – Inequality, Savings and
Growth – Kuznets Curve
4. Poverty and Development 08
Conceptual issues – Poverty, credit and insurance – Poverty,
nutrition and labour markets – Poverty and the household .
5. Population and Development 06
The determinants of fertility – The costs of children –The

Optimum Population – The low-level equilibrium trap.
6. Land and Labour in Developing Economies 06
Land market : Principal-Agent Model - Risk, Tenancy and
Share Cropping - Land size and productivity Labour Market:
Role of poverty, nutrition and labour markets
7. Credit and Insurance in Developing Economies
Credit Market -Sources of demand for credit – Rural
credit markets - Inter-linked markets - Micro-Finance 05
Insurance Market -Basic concepts - Role of information and
enforcement.
Pedagogy: The course will be taught using lectures, discussions, seminars

and assignments.
References/ References:
Readings  Behrman,S. and T.N.Srinivasan (1995), Handbook of
Development Economics, Elsevier, Amsterdam.
 Cyphez and Dietz James L. (2009), The Process of
Economic Development, Theory, Institutions,
Applications and Evidence, Routledge, London.
 Ghatak Subrata, ( 2007), Introduction to Development
13
Economics, Routledge, London.
 Hayami, Y. (2001), Development Economics, Oxford
University, Press, New York.
 Meir Gerald M. and Rauch James (2010), Leading
issues in Economic Development , Oxford University
Press, Delhi.
 Nafziger ,E. W(2006), Economic Development,
Cambridge University Press, New York
 Naqvi, Syed N. H., (2002), Development Economics -
Nature and Significance, Sage Publications, Delhi.
 Naqvi, Syed N. H., (2015), Economics of
Development, Sage Publications, Delhi.
 Pattanaik B.K., (2016), Introduction to Development
Studies, Sage Publications, New Delhi.
 Peet Richard and Hartwick Elaine, (2005), Theories of
Development, Rawat Publications, New Delhi.
 Ray, Debraj, (2010), Development Economics, OUP,
Delhi.
 Schaffner Julie, (2014), Development Economics,
Wiley, U.S.A.
 Thirlwall, A.P.(2008), Growth and Development,
Macmillan, U.K.
 Thirlwall, A.P.(2011), Economics of Development,
Palgrave Macmillan, New York.
 Todaro Michael P. And Smith S.C., (2012), Economic
Development, Pearson, India
Learning
Outcomes On satisfying the requirements of this course, students will be
able to critically evaluate economic problems of developing
countries.
14
Course Code: ECC 115 Title of the Course: Mathematics for Optimisation

the course:
Objective: To learn the mathematical tools and concepts that aid in Contact
analysing economic optimisation. Hours
Content:
1. Vectors and Matrices
16
Vectors, Vector Spaces, Linear Dependence, Basis.
Elementary operations with Matrices, Equivalence,
Determinants, Inverse of Matrix, Rank of a Matrix, Cramer’s
Rule. Introduction to Input-Output techniques.
2. Functions & Limits:
4
Limit of a function, continuity, Necessary and sufficient
conditions.
3. Differentiation 10
Rules of differentiation: Total derivatives and Partial
derivatives. Maxima and minima, points of inflexion.
10
4. Optimisation – Unconstrained & Constrained
Application to economics: cost curves, demand curves,
Theory of the consumer and Theory of the Firm under Perfect
and Imperfect Competition.
5. Integration: 8
Reimann integral, Fundamental Theorem of the calculus,
Techniques of integration and Definite integrals. Applications
in economics: Theory of the firm (cost) & Growth
11. PC lab exercises
12. Android based activity
14. Group activity
References/Read  A.C. Chiang, (1995) Fundamental Methods in

ings Mathematical Economic McGraw Hill, New York
 Simon, Carl P. & L. Blume(1994) Mathematics for
15
Economists W.W. Norton, New York
 Sydsaeter and Hammond (2004), Mathematics Of
Economics Analysis, Pearson.

Outcomes understand how mathematical concepts aid in understanding
optimisation in economics.
16
Course Code: ECC 116 Title of the Course: STATISTICS FOR ECONOMIC
ANALYSIS

the course:
Objective: To learn the statistical techniques and concepts that aid Contact
economic analysis. Hours
Content:
1. Probability
Sample Space, Random Variable, Addition and multiplication 12
theorem-Conditional Probability, Bayes Theorem,
Distribution Function, Mathematical Expectation, Measures of
central tendency and variance.
2. Probability Distributions : 12
Discrete, Continuous and Sampling Distributions: Binomial,
Poisson, Normal, Standard Normal, Student-t, Chi-Square, F-
distribution.
12
3. Testing of Hypotheses: Concepts & Applications
Testing of Hypothesis; Null and Alternative Hypothesis, Type
I & II errors. Levels of Significance. Testing mean, proportion
-single and two populations. Testing t, z, F, chi-square test.
12
5. Correlation & Regression:
Covariance, Correlation, Rank Correlation. Introduction to
Two Variable Regression.
18. Android based activity
20. Group activity
References/Read  Mark L. Berenson, David M. Levine, Kathryn A.
ings Szabat (2015), Basic Business Statistics, Pearson
publication
 David M. Levine, Kathryn A. Szabat, David F.
Stephan, Statistics For Managers Using Ms Excel,

Outcomes understand basic statistical techniques and be in preparation
for learning Econometrics
17
Course Code: ECO 117 Title of the Course: Labour Economics

the course:
Objective: To develop students’ abilities in acquiring a better Contact
understanding of the functioning of labour markets. Hours
Content:
1. The Supply of Labour
10
Supply of labour by an individual, by a household to an

economy – A Household model of labour supply – A
bargaining model of family labour supply – Changes in
work participation over time: The decline in male
participation rates; the increase in female participation rates
– Labour force growth during recessions: The Added
Worker Effect-The Discouraged Worker Effect - Classical
Theory of Job Choice - Modern Theory in terms of 07
investment in Human Capital - Migration.
2.The Demand for Labour
The individual firm’s demand for labour in the short run -

The individual firm’s demand for labour in the long run - 04
Industry demand for labour - Elasticity of demand for
labour.
3.The Labour Market
Definition of the labour market – Differences between

07
Labour Markets and Commodity Markets - Labour Market
Structure: Structured Labour markets- Unstructured
Labour Markets-Internal and External Labour markets-
Primary and Secondary Labour Markets. 06
4. Theories of Labour Market Discrimination

Types of discrimination – Taste-for- discrimination model
– Market Power: The Monopsony model – Theory of
Statistical discrimination – The Crowding model.
18
5. Employment
Types of unemployment – The measurement of

unemployment – Causes of unemployment: Job Search 08
(The Stigler model, The McCall model)-Rigid wages-
Efficiency wages.
6. Wage Determination
Wage determination in a perfectly competitive market –

Wage determination in a Monopsony market – Minimum
wage – Minimum wage in a perfectly competitive market – 06
Minimum wage in a monopsony market – The minimum
wage and efficiency wage theory – Segmentation and Dual
Labour Market Theory.
7. Productivity
Concept - Measurement – Importance of productivity

increases - Factors influencing labour productivity -
Productivity and inflation - Productivity and employment .

and assignments.
References/Read References :
ings
 Ashenfelter Orley C., David C., (2010), Handbook of
Labour Economics, Vol. 3C, North Holland, U.K.
 Basu Kaushik, (Ed.)(2002), International Labour

Standards: History, Theories and Policy Options,
Wiley-Blackwell
 Bauder Harold,(2006), Labour Movement: How

Migration Regulates Labour Markets, OUP, USA
 Bloom G.F. and Northrup H.R., (1977), Economics of

Labour Relations, Richard D. Irwin, Inc. Homewood,
Illinois.
 Borjas G.J. (2015), Labour Economics, McGraw-Hill,

New York.
 Cahuc Pierre, Zylberberg A., (2014), Labour

Economics, Mit Press, USA.
 Ehrenberg R., (2017), Modern Labour Economics-

Theory and Public Policy, Routledge, U.S.A.
 Hyclak Thomas, Johnes G., Thornton R., (2012),
19
Fundamentals of Labour Economics, South – Western
College Publishing, USA.
 Jacobson J., Skillman G., (2002), Labour Markets and

Employment Relationships: A Comprehensive
Approach.
 Kaufman B.E. and Hotchkiss J.L.(2006), Labour

Market Economics, Cengage Learning, India.
 Laing Derek, (2011), Labour Economics: Introduction

to Classic and the New Labour Economics, W.W.
Norton and Co., USA.
 McConnell, C.R. and S.L.Brue and Macpherson,

(2010), Contemporary Labour Economics, McGraw
Hill Irwin, New York.
 Reynolds L.G. (1998), Labour Economics and Labour

Relations , Prentice Hall, USA
 Sapsford David,(1983), The Economics of the Labour

Market, George Allen and Unwin Ltd., London.
 Smith S.W.(2003), Labour Economics, Routledge,

London.
 Sloane Peter et al (2012), Modern Labour Economics,

Routledge, U.S.A.
Learning
Outcomes Students will be able to think independently on various
issues related to labour markets.
20
Course Code: ECO 118 Title of the Course: Industrial Relations And Social Security

the course:
Objective: To familiarise the students with the issues related to Industrial Contact
Relations and Labour Welfare. Hours
Content:
1.Industrial Relations
06
Concept – Importance of Industrial Relations – Scope and

Aspects of Industrial Relations – Factors Affecting
Industrial Relations
2. Industrial Disputes 10
Concept – Classification of Industrial Disputes - Causes of

Industrial Disputes - Steps to achieve industrial peace -
Methods of settlement of industrial disputes.
09
3. Worker’s Participation in Management
Concept – Objectives – Forms of Participation – Levels of

Participation – Forms of Worker participation in India
4. Theories of the Labour Movement

08
Karl Marx, The Webbs, Perlman, KDHM ( Kerr, Dunlop,

Harbison and Myers )
5. Trade Unions in India 07
Concept of a trade Union – features and functions -Growth

and structure of Trade Unionism in India – Problems of
Trade Unions
5. Social Security and Labour Welfare 08
Concept of Social Security and Labour Welfare in India -

Important labour legislations in India : Industrial Disputes
Act - Trade Unions Act, Factories Act and Employees State
21
Insurance Act

and assignments.
ings  Agarwala Ramgopal et al, (2004), Reforms, Labour
Markets and Social Security, OUP, New Delhi.
 Addison J.T., Schnabei C., (2003), International
Handbook of Trade Unions, Edward Elgar.
 Budd John W. (2017), Labour Relations, McGraw Hill
Higher Education, U.S.A.
 Jhabvala,R. and R.K. Subrahmanya (Eds.)(2000), The
Unorganised Sector : Work Security and Social
Protection, Sage Publications, New Delhi.
 Mamoria C.B.& Mamoria S.(2008), Dynamics of
Industrial Relations, Himalaya Publishing House,
Mumbai.
 McConnell C.R. and Brue S.L. (2007), Contemporary
Labour Economics, McGraw-Hill, New Delhi.
 Sen Ratna, (2008), Industrial Relations in India,
Macmillan India Ltd.
 Sinha P.R.N. et al, (2012), Industrial Relations, Trade
Unions and Labour Legislations, Pearson Education,
India.
 Sivarethinamohan R. (2010), Industrial Relations and
Labour Welfare, PHI Learning, New Delhi.
 Venkataramana P. (2007), Industrial Relations, APH
Publishing Corporation, New Delhi.
Learning The students will know about the origin of labour movement,
Outcomes industrial disputes resolution and important labour
legislations in India.
22
Course Code: ECO 119 Title of the Course:Financial Economics
Prerequisites for Basic Knowledge of Microeconomics and Mathematics

the course:
Objective: To provide students with an understanding of financial Contact
markets and related theories. Hours
Content: 1. Indian Capital Market 10
Stock Markets- Mutual funds-Venture Capital- Regulatory
mechanism: Role of SEBI
2. Valuation of financial assets
Time value of money-Money and asset pricing- Risk and 04
return-Shares-Bonds
3.Asset Pricing Theories
Portfolio theory-Capital asset pricing model-Arbitrage pricing 04
theory
4.Futures Market
Mechanics of futures and forward markets-Determination of 15
forward and futures prices- Hedging-Stock futures, index
futures- Interest rate futures
5. Options Market
Mechanics of options market-Call option-Put option-Pricing of 15
stock options-Black-Scholes
model- Hedging using options

study the actual IPO’S,
References/Read  D.E. Fisher and R.J. Jordan –(2001) Security Analysis

ings and Portfolio Management, Prentice-Hall/Pearson
Edu., 6th Edition,
 Eates Brian A,(2000), Financial Engineering,
Macmillan, London.
 Eichberger J and Ian.R. Harper,(1997), Financial
Economics, Oxford University Press,Oxford.
 Hull(2001), Introduction to Futures and Options
Markets, Prentice Hall of India, New Delhi.
 Hull(2008) Fundamentals of futures and options
markets 7th edition, Prentice Hall
 Keith Redhead,(1998) Financial Derivatives, Prentice-
Hall of India, New Delhi.
 Kohn Meir(1994), Financial Institutions and Markets,
Macgraw Hill, New York.
 Le Roy Stephen and Jan Werner(2001), Principles of
23
Financial Economics, Cambridge University Press,
New York.
 Levinson Marc (1999), Guide to Financial Markets,
Profile Books, London.
 Martin Antony and Norman Biggs(2000), Mathematics
for Economics and Finance, Oxford University Press,
Oxford.
 Pilbeam Keith(1998), Finance and Financial Markets,
Palgrave , New Delhi.
 Reilly Frank K and Keith C. Brown,(2007) Investment

Analysis and Portfolio Management, 8th edition,
Thomson Learning,
 Vijay Baskar P and B.Mahapatra,(2002), Derivatives
Simplified , Sage Publishers, New Delhi.
Learning
Outcomes The students will be able to understand and analyse issues
related to finance.
24
Course Code: ECO 120 Title of the Course: Human Resource Management and
Development

the course:
Objective: To familiarise students with designing, implementation and Contact
evaluation of HRD programmes in a corporate setting Hours
Content:
1. Introduction to Human Resource Development 07
The evolution of HRD - The relationship between HRD and

HRM - HRD functions - Roles of an HRD Professional -
Challenges to HRD Influence on Employee Behaviour
2. External influences on Employee Behaviour - Motivation : 07

An Internal influence on Employee Behaviour - Other
Internal Factors that Influence Employee Behaviour -
Environmental Influences on Employee Behaviour.
3.Assessment of HRD needs 07
Definition and Purposes of Needs Assessment - Organisational

Analysis - Task Analysis - Person Analysis - Prioritising HRD
needs.
07
4.Designing HRD Programs
Defining Program Objectives - Purchasing HRD Programs -

Selecting the Trainer - Preparing a Lesson Plan - Selecting
Training Methods 12
5. Implementing HRD Programs
Training Delivery Methods – On-the-Job Training Methods -

Classroom Training Methods - Scheduling the Training 08
Program - Implementing the Training Program.
25
6. Evaluating HRD Programs
The purpose of HRD Evaluation - Models of Evaluation -

Data Collection for HRD Evaluation - Research Design -
Ethical Issues of Evaluation research.

and assignments.
ings  DeSimone R.L. & Harris D.M. (2012), Human
Resource Development, Cengage Learning, U.S.A.
 Deb Tapomay (2012), Human Resource Development,
Ane Books Pvt. Ltd., Mumbai.
 Haldar U.K. (2009), Human Resource Development,
OUP, New Delhi.
 Mankin David (2009), Human Resource Development,
OUP, New York.
 Megginson D., (2001), Human resource Development,
OUP, USA.
 Mitchell D.J.B. and Zaidi M.A. (1990), The
Economics of Human Resource Management, Basil
Blackwell, Cambridge.
 Rao T.V. (2010), Human Resource Development,
Oxford and IBH Publishing Co.Pvt. Ltd.,
 Werner J.M., (2007), Human Resource Development,
South Western Educational Publishing.
Learning
Outcomes After completing the course the students will be able to
design, implement and evaluate HRD programmes.
26
Course Code: ECO 121 Title of the Course: Agricultural Economics

the course:
Objective: To introduce the students to the functioning of Agricultural Contact
Markets Hours
Content: 1. Agriculture and Economic Development 10
Traditional vs. Modern Agriculture. Role of agriculture in
economic development;
Interdependence between agriculture and industry
2. Demand for agricultural commodities
Special characteristics - Effects of population, prices, and 04
income on demand.
3. Supply of agricultural commodities
Special characteristics - Supply of individual commodities and 04
aggregate supply - Effects of
price on supply
4. Agricultural prices 08
Peculiar characteristics - Cob web cycle price income problem
- Farmers dilemma -
Administered prices : types and determination - Price
Quotations. 08
5. Agricultural production
Production decisions by a rational farmer -Risk and
uncertainly. Resource use and efficiency;
production function analyses in agriculture; Factor
combination and resource substitution 05
6. Land and Capital Markets
Characteristics - Lease market - Capital market - Role of credit
and peculiarities 04
7. Labour Markets
Characteristics and structure. 05
8. Agricultural Marketing
Characteristics - Free trade - Cooperative Markets - Regulated
Markets.
References/Read  American Economic Association (1970) Readings in

ings the Economics of Agriculture Allen Unwin, London.
 Bishop C.E. and W.D Tansaint (1958), An
Introduction to Agricultural Economic Analysis, J.
Wiley, New York.
 Capstice M. (1970), Economics of Agriculture, Allen
and Unwin, London
27
 Ghatak, (1984), Agriculture and Economic
Development, Prentice Hall, New York.
 Snodgross and Wallace (1977), Economic, Agriculture
and Resource Management, Prentice Hall , New Delhi.
Learning
Outcomes The students will be able to understand issues related to
agricultural production and markets.
28
Course Code: ECO 122 Title of the Course: Agricultural Development in

India
Prerequisites for NIL Contact

the course: Hours
Objective: To understand the agricultural development, problems faced
and Government policies in India
Content:
1. WTO and Indian Agriculture Agricultural Imports and 10
Exports . Agricultural Export- Import Polices – history and
recent changes Agreement on Agriculture under WTO.
Impact of WTO on Agriculture. Problems of Agricultural
exports – imports
2. Land reforms
Aims and objectives - Evaluation of land reforms - New 05
Economic Policy and land reforms.
3 . Agricultural Price Policy in India
Its role in Green Revolution- Functions of CACP, PDS and 08
FCI - Evaluation of Agricultural Price Policy in India -
Agricultural Price Policy under the New Economic Policy.
4. Agricultural Credit in India
Organized and unorganized Credit Markets - Cooperative 05
credit - Role of commercial banks - Evaluation of agricultural
credit in India.
5 . Agricultural marketing in India
Organized, regulated, cooperative and Unorganized markets - 05
Evaluation. Forward trading
6. Indian Agricultural Problems 05
Inputs for Indian agriculture, Agriculture Input subsidy -
Irrigation policy- user charges.
Recent Agricultural Problems in India
7 . Strategy for agricultural development 10
Institutional reforms vs. Technological change -
Biotechnology , Green Revolution -
Nature - Progress and present problems - Trends in investment
in Agriculture - Issues in
Agricultural Taxation. Impact of agricultural development ,
New developments in commodity
derivatives in India.
References/Read
ings  Ajit Singh (1993) Economic Crisis and Third World
Agriculture Cambridge University press
29
 Bhaduri, A. (1984), The Economic Structure of
Backward Agriculture,Macmillan,Delhi.
 Bhalla G.S and Gurnail Singh (2001) , Indian
Agriculture, Sage Publishers, New Delhi
 Bilgram, S. A. R. (1996), Agricultural Economics,
Himalaya Publishing House,Delhi
 Chakravarty S (1987) : Development Planning , The
Indian Experience, Oxford University Press, New
Delhi.
 Dantwala M.L. (ed.) (1991) Indian Agricultural
Development since Independence,
 Oxford Production conditions in Indian Agriculture :
Cambridge University Press.and IBH, New Delhi.
 Dantwala M.L.(1996), Dilemmas of Growth: The
Indian Experience : Sage Publishers
 , New Delhi.
 Dhawan, B.D.(1988), Irrigation In India’s Agricultural
Development, Sage
 Publications, New Delhi.
 Ghatak (1984), Agriculture and Economic
Development, Prentice Hall, New York
 Government of India, (1976) Report of the National
Commission on Agriculture,
 Economic Survey annual , New Delhi.
 Gulati Ashok and Tim Kelly (1999), Trade
Liberalisation and Indian Agriculture,Oxford
University Press, U.K.
 Johnson P.A. (2003) Development Issues of Indian
Economy Manan Prakashan.
 Joshi P.C.(1975) Land Reforms in India : Trends and
Prospects, Allied Publishers,Bombay.
 Kapila Uma (ed) (2003) Indian Economy Since
Independence. Academic Foundation
 Karmakar K.G (1999), Rural Credit and Self Help
Groups, Sage Publications, NewDelhi.
 Rao C.H.H.(1975) Agricultural Growth, Rural Poverty
and Environmental Degradation in India, Oxford
University Press, New Delhi.
 Rao, C. H. Hanumantha (1994), Agricultural Growth,
Rural PovertyAnd Environmental Degradation in
India, Oxford University Press, New Delhi.
 Rudra Ashok (1982), Indian Agricultural Economics :
Myths and Reality , Allied Publishers , New Delhi.
 Saini G.R.(1979), Farm Size Resource Use Efficiency
and Income Distribution, Allied Publishers, New
Delhi.
 Singh B.K. and Pushpendra (2000), Land Reforms in
India:An Unfinished Agenda,Sage Publications, New
Delhi.
30
 Subbarao, K. and De Janvry (1986), Agricultural Price
Policy and Income Distributionin India, Oxford
University press, New Delhi.
Learning
Outcomes The students will be able to understand agricultural
development in India and analyse its progress.
31
Course Code: ECO 123 Title of the Course: Indian Public Finance

the course:
Objective: To understand the policies, institutions and components of Contact
Indian Public Finance. Hours
Content:
1. Allocation of Resources and the Budgetary Process 08
Indian System of allocation- Constitutional and other
mechanisms. Changes in devolution systems and role of
budget in providing framework for growth and stabilisation.
Government Budgeting, Budget -meaning and components,
presentation and execution of Budget. Economic classification
of Budget. Revenue and capital account. Budget deficit and
their implications.
2. Black Economy 08
Estimates of black economy in India. Its impact on income,
prices and effectiveness of economic policy.
3. Indian Tax System:
Alternative Sources of Taxation of Goods and Services in 08
India: Direct and Indirect taxes.
4. Deficits and Debt
Impact on growth, prices and employment. Central and State- 08
level distribution of borrowings- impact on growth (National
and Regional).Deficit Financing - Meaning and Objectives of
Deficit Financing. Trends in Different Types of Deficits Since
1991-Deficit Financing in India. Effects of Deficit Financing
on Indian Economy. Assessment of the Recent Central
Government Budget.
5. Indian Expenditure System: 08
Revenue & Capital, Development and Non-development, Plan
and Non-plan: Trends and impacts. Changes in structure of
expenditure of the Centre and states- consequences on
growth and welfare.
6. Fiscal Federalism: 08
Logic of devolution of resources between different tiers of
Government . Allocation of
financial responsibilities of revenue and expenditure.
References/Read  Chelliah, R. (1995) Sustainable Economic Growth,

ings Oxford University Press, Delhi.
 Kumar, A.(2001), The Black Economy of India,
32
Penguin, Harmondsworth.
 Rao, M. Govinda and Nirvikar Singh (2005), Political
Economy of Fiscal Federalism in India, New Delhi:
Oxford University Press
 Shome, P(1995) Tax Policy: A Handbook, IMF,
Washington.
 Srivastava D.K(2005 ) Issues in Indian Public Finance,
New Century Publications
Learning
Outcomes The students will be able to understand the budgetary process,
documents and analyse Government’s fiscal policy.
33
Course Code: ECO 124 Title of the Course: Theories of Economic Growth

the course:
Objective: To introduce students to the theories and empirics of growth Contact
Hours
Content:
1.Capital and Technical Progress 08
The role of capital in development – The Capital-Output Ratio

– Capital and Labour Saving Technical Progress – Harrod and
Hicks’ classification of technical progress – Investment in
Human Capital.
2. The Choice of techniques

08
The capital intensity of techniques in developing countries –

The conflict between employment and output and employment
and saving in the choice of techniques – Support of the
unemployed – Use of taxes and subsidies to reconcile the
conflict between employment and saving. 12
3. Classical Theories of Growth
Classical - Adam Smith – Ricardo – Malthus -Marx
Schumpeter - The Production Process – Schumpeter’s view of

the system – Growth and development of an economy -
Business fluctuations and the Process of Development. 07
4. Keynesian Theory of Growth
Harrod – Domar Model - The conditions required for steady

growth – Domar’s model of economic growth – Harrod’s
model of economic growth – Comparison of the two models -
Critical evaluation of the Harrod-Domar models.
5. Neoclassical Theories of Growth 05

Solow – Meade - Issues of Stability, Exogenous technical
progress and population growth
34
6. Cambridge Models of Growth 08
Joan Robinson – assumptions-structure of the model-the

golden age-various types of golden and platinum age-critical
evaluation of the model- Kaldor’s model
Pedagogy: Lectures, written assignments, seminar presentations

References/Read References
ings  Barro, R. and X. Sala-I-Martin (2003) Economic
Growth, McGraw Hill, New York.
 Berg Hendrick Van Den Berg (2017), Economic
Growth and Development, World Scientific.
 Gylafson, T. (1999) Principles of Economic Growth,
Oxford University Press, Oxford.
 Jones, Charles (2006) Introduction To Economic
Growth, Viva Books Pvt. Ltd., New Delhi.
 Lucas, Robert E (2002), Lectures on Economic
Growth, OUP, New Delhi.
 Nafziger ,E. W(2012), Economic Development,
Cambridge University Press, New York
 Rutton Vernon W. (2001), Technology, Growth and
Development, OUP, Nw York.
 Sen, A. (1990) (ed.) Growth Theory, Penguin Books,
Harmondsworth.
 Ray, Debraj, (2014), Development Economics, OUP,
Delhi.
 Solow, R. (2000) Growth Theory, Oxford University
Press, Oxford.
 Thirlwall, A.P. (2006) Growth And Development,
With Special Reference To Developing Economies,
Palgrave Macmillan, New York.
Learning Upon completion of this course students should be able to

Outcomes discuss the important models, theories and implications of
the alternative approaches to growth.
35
Course Code: ECO 125 Title of the Course: ENVIRONMENTAL ECONOMICS

the course:
Objective: To Learn the implications of production and consumption Contact
outcomes on the environment and how market and non-market Hours
tools can be used in policy-making to move towards
sustainable development.
Content: Total Contact hours: 48
1. Environment & Economy

12
Inter-linkages and Trade-offs, Poverty, Environment and
Development debate. Issues of Climate Change – Adaptation
and Mitigation
12
2. Theory of Externalities & Environmental Policy
Missing Markets, Non-convexity, Non-linearity, Public

Goods, Common Property Resources, Coase Theorem and
Issues in Property Rights; Pigouvian Taxes, Subsidies,
Tradable Permits, Price v/s Quantity tools
3. Sustainable Development 12
Renewable and Non-renewable Resources - Optimal Use
under different market Structures.
12
4. Issues in Valuation
Costs and Benefits. Use Values, Non-use Values, Option
Values, Discount Rates
References/Read  Tom Tietenberg (2007), Environmental Economics and
ings Policy, by, Pearson
 Hanley, Nick, Shogren, Jason, White, Ben (
2007)Environmental Economics In Theory & Practice ,
Pearson
 Stagl, Sigrid, Common, Michael (2005) Ecological
Economics An Introduction, Cambridge University
Press
Learning Successful students will learn to integrate environmental
Outcomes concerns with economic development
36
Course Code: ECO 126 Title of the Course: Introduction to Econometrics
Prerequisites for Students must have basic knowledge of Statistical and

the course: Mathematical methods
Objective: To provide students exposure to econometric theory, model
building and data analysis
Content: .
1. Two-Variable Regression Analysis: 10
Introduction to Econometric Software: Statistical/
Econometric Software for data analysis.
Sample and Population Regression Function. Linearity in
variables and coefficients.
Ordinary Least Squares (OLS) - Gaussian Classical model.
Assumptions and Properties of OLS Estimates; The Co-
efficient of determination - R2, Testing of Hypothesis
2. Multiple regression analysis: 10

Problems of Estimation - The three - variable model
Interpretation - Partial Regression Coefficients - Multiple co-
efficient of determination R2 (R bar square)
Functional forms of regression models; Omitted variables,
Specification tests, Ramsey RESET test, Wald, LM test
3. Autocorrelation:
OLS Estimation in the presence of Autocorrelation; 8
Consequences - Detection - Remedies.
4. Heteroscedasticity: 4
OLS Estimation in the presence of Heteroscedasticity – Tests
of Heteroscadasticity- Remedies.- Methods of Generalised
Least Squares (GLS);
10
5. Multi-collinearity:
Estimation in the presence of perfect and imperfect multi-
collinearity - practical consequences of multi-collinearity -
detection - remedies.
6
4. Regression on Dummy Independent Variables
The nature of dummy variables - Regression using quantitative
variable and qualitative variable-Application of Dummy
Variables’ approach
Pedagogy: lectures/ case analysis/assignments/class room interaction/lab
37
References/Read
ings References
 Asteriou Dimitrious,(2006), Applied Econometrics,
Palgrave Macmillan, New York
 Cameroon Samuel (2005), Econometrics, Mcgraw Hill,
New York.
 Davidson, J. (2000) Econometric Theory, Blackwell,
USA
 Goldberger, A.S. (2000) Introductory Econometrics,
Harvard University Press, Cambridge.
 Greene, W. (2004) Econometric Analysis, Prentice
Hall, New York.
 Gujarati, D. (2004) Basic Econometrics, McGraw Hill,
New Delhi.
 Hayashi, F (2000), Econometrics, Princeton University
Press, Princeton.
 Pattreson, Kerry ( 2000 ) An Introduction to Applied
Econometric: Time Series Approach, Palgrave
Macmillan, New York
 Ramanathan Ramu (2002), Introductory Econometrics
with applications, Thomson South Western, Singapore
 Wooldridge (2006), Introductory Econometrics,
Thomson-South Western, Singapore.
Learning The students will be in a position to develop, estimate and

Outcomes interpret econometric models and to draw the policy
implications to help decision makers.
38
Course Code: ECO 127 Title of the Course: OPTIONS: THEORY &
PRACTICE
Prerequisites for Basic knowledge of Concepts in Financial Economics

the course:
Objective: This course is unique and practical oriented. The objective is Contact
to acquaint the students the actual skills of using options Hours
theory in various real life situations.
Content:
. 1. The basics of options 10
The need for options – Introduction to different types of
options – stock options, index options, currency options, etc.
Characteristics of options : call options, put options, European
and American, Long call options and put options, Short call
options and put options. Advantages of options compared to
futures, forwards and stocks.
2. Pricing of options 08
Factors affecting the price of the options. Intrinsic value and
Extrinsic value. Options status relative to the underlying asset
: In the money (ITM) At the money (ATM), Out of the money
(OTM).
3. Option valuations 10
Theoretical values of option, Black-Scholes options pricing
model.Option Greeks : variables that affect the options values
– Delta, Gamma, Theta, Rho,Vega.
4. Options strategies 10
Different strategies of options for bullish, bearish and neutral
market situations. Bullish strategies : long calls and short puts,
bull call spreads and put spreads. Ratio call spreads.
Bearish strategies : long puts, short calls bear put spreads,
Neutral strategies : covered call writing, straddles, strangles,
butterfly.
5. Applications of Options 10
The functioning of the option market : stock options, index
options, currency options,
commodity options
Pedagogy: lectures/ case analysis/assignments/class room interaction/
analysing live options markets in the real time.
References/Read
ings  Burghardt, Galen, (2003), The Eurodollar Futures and
Options Handbook, McGraw-Hill.
 Figlewski. S., W. Silber and M. Subrahmanyam,
39
(1990), Financial Options, : FromTheory to Practice,
Business One Irwin.
 Gastineau, G. L., (1988), The Stock Options Manual,
3rd edition, McGraw-Hill.
 Graeme Guthrie,(2009) Real Options in Theory and
Practice, Oxford University Press.
 Hull , J., (2012), Options, Futures and Other Derivative
Securities, 8yj edition.
 Jarrow, R. A. And A. Rudd, (1983), Option Pricing,
Dow Jones – Irwin.
 McMillan, L.G.,(1993), Options as a Strategic
Investment, 3rd edition, New York Institute of
Finance.
 Natenberg, S., (1994), Options Volatility and Pricing :
Advanced Trading Techniques, 2nd edition, Probus.
 Sheldon Natenberg, (1994) Option Volatility & Pricing
: Advanced Trading Strategies and Techniques,
McGraw-Hill.
 Stoll, H. And R. Whaley, (1993), Futures and Options :
Theory and Application, Thomson South Western
 Taleb, Nassim, (1997), Dynamic Hedging : Managing
Vanilla and Exotic Options,
 Wiley.
Learning
Outcomes The students will be able to understand and analyse the
options in Indian markets and will be in a position to analyse
financial options, currency options and commodity options.
40
Course Code: ECO 128 Title of the Course: International Trade and Globalisation

the course:
Objective: To introduce the students to the theories and tools used to Contact
analyze economic issues resulting from interaction of a Hours
country with the rest of the world.
Content:
1.TradeTheories 12
Heckscher Ohlin Model and factor endowments- Factor price
equalisation-Stolper Samuelson Theorem-Tests of H-O model-
Leontief paradox. Alternative trade models -Specific factors
model-Product life cycle-Intra-industry trade-Imperfect
competition and trade -Reciprocal dumping model. Flying
geese paradigm.
2. Economic Growth and International Trade 06

Growth of factors of production -Rybczynski theorem-
Technical progress and international trade - Effects of growth
on trade- immiserising growth-International trade and growth:
Dynamic models- trade and development
4. Commercial Policy 12
Tariff-Economic effects of tariff-Partial and general
equilibrium analysis-Tariff structure-Effective rate of
protection-Optimum tariff- Various Non-Tariff measures-
Economic effects of quota-Dumping and anti-dumping
regulations
5. Factor Movements
Welfare effects of international labour and capital movements- 06
Foreign Direct Investment(FDI)-Foreign Institutional
Investment(FII)-Financial Globalization-Capital movements to
developing countries- International labour migration -Recent
trends.
6. Regional Trading Agreements and New World Order 06

Regionalism v/s Mulilateralism-Theory of customs union-
Trade creating and trade diverting- European Union(EU)-
North American Free Trade Agreement(NAFTA).
7. WTO and Trade Liberalisation 06

WTO-Structure and constitution-Agriculture, industry,
services and labour under WTO-UNCTAD- functions-role-
41
UNCTAD and developing countries-Trends in Global trade in
goods and services.
ings  Bardhan Pranab (2003), International Trade, Growth
and Development, Blackwell Publishing, USA.
 Carbaug Robert J.(2007) , International Economics,
South Western and Centage Publishing, New Delhi
 Gandolfo, G (2006), International Trade: Theory and
Policy, Springer (India) private limited
 Gerber James (1999), International Economics,
Addison -Wesley, California.
 Goldin Ian and Kenneth Reinert (2006) Globalisation
for Development, Palgrave Macmillan.
 Husted Steven and Michel Melvin(2009),
International Economics, Addison-Wesley, New York.
 Jones, K.A.(2015), Reconstructing The
World Trade Organization For The 21st Century :An
Institutional Approach, Oxford University Press, New
York.
 Kenen, Peter B(2000) International Economy,
Cambridge University Press, Cambridge.
 Kindleberger, C. (1998) International Economics,
AITBS, New Delhi.
 Krugman, paul and Maurice Obstenfeld
(2009),International Economics: Theory and Policy
Pearson Education, Addison Wesley Longman, New
Delhi.
 Marrewijk C.V, (2002), International Trade and the
World Economy, Oxford University Press, Oxford
 Salvatore, Domnic (2007) International Economics,
Macmillan, Singapore
 Sodersten Bo and Geoffery Reed(1994), International
Economics, Macmillan , London.
 Srinivasan.T.N. and Suresh D.Tendulkar(2001), India
in the World Economy, Institute for International
Economics, New York
 Thompson, Henry (2010) International Economics,
Cambridge University Press India, New Delhi
Learning
Outcomes The students will be able to understand matters
related to trade policy and the impact on the global
economy.
42
Course Code: ECO 129 Title of the Course: International Finance
Prerequisites for Knowledge of concepts of International Economics

the course:
Objective: To introduce students to global financial markets in relation to Contact
domestic policies and regulatory systems. Hours
Content:
1. BOP adjustment
Balance of payments (BOP) accounts and balances- 10
BOP and National Income-Foreign trade multiplier-BOP
adjustments- Elasticity’s approach-Marshall-Lerner condition-
J curve-Absorption approach-Internal balance and external
balance-Assignment Problem.
2. Open Economy Macroeconomics and BOP 06

Mundell-Flemming model-Adjustments under pegged
exchange rate systems and flexible exchange rate systems,
imperfect and perfect capital mobility -Monetary approach to
BOP.
3. Exchange Rate
Foreign exchange market--Exchange rate determination-Spot 10
markets- Forward markets-Interest arbitrage-Covered-
uncovered-Hedgers-Speculators-Theories of exchange rate
determination-Purchasing power parity-Monetary model-
Flexi-price-Sticky price-Exchange rate overshooting-Portfolio
balance model.
4. Currency Futures, Options & Swaps 08

Futures market -Hedging - Options market-Call option-Put
option-Option premium- Option pricing model-Foreign
exchange risk-Exchange rate systems- Currency Swaps
5. International Money and Capital Market 08

Eurocurrency market-Characteristics- loan syndication
technique- Capital market-International bond market-Equity
market-GDRs-ADRs.
6. International Liquidity 08
Bretton Woods system & its collapse -managed floating-
Optimum currency areas-European Monetary System- Euro-
Financial crisis-models of currency crisis-IMF
43
ings  Berg, Hendrik Van den (2010),
International Finance And Open-Economy
Macroeconomics, Cambridge University Press, New
Delhi.
 Butler, Kirt.C (2003), Multinational Finance, South
Western College Publishing , New York.
 Carbaug Robert J.(2007) , International Economics,
South Western and Centage Publishing, New Delhi.
 Daniels, Joseph P.(2002), International Monetary And
Financial Economics, South-Western/Thompson
Learning, Cincinnati, Ohio.
 De Rosa David F(1998), Currency Derivatives, John
Wiley , New York.
 Feenstra, Robert and Alan Taylor(2008) International
Economics, Worth Publishers, New York.
 Gandolfo Giancarlo,(2006), International Finance and
Open -Economy Macro Economics, Springer, New
York.
 Husted Steven and Michel Melvin(2009), International
Economics, Addison-Wesley, New York.
 Kenen Peter B(2000), International Economy,
Cambridge University Press, New York.
 Krugman, Paul and Maurice Obstfeld
(2009),International Economics: Theory and Policy
Pearson Education, Addison Wesley Longman, New
Delhi.
 Levi, M.D (2005) International Finance, Routledge,
Taylor Francis Group, New York
 London
 Pilbeam. K (2009) International Finance, Palgrave
Macmillan, New York.
 Salvatore Domnic(2007), International economics,
Macmillan, London.
 Shapiro Alan, C (1999),Multinational Financial
Management, John Wiley , New York.
 Sodersten Bo and Geoffery Reed (1994), International
Economics, Macmillan Press,
 Ugur Mehmet(2002), An Open Economy
Macroeconomics Reader, Routledge, New York.
Learning Upon completion of this course students will be able to

Outcomes analyze a nation’s balance of payment, foreign exchange
markes, international monetary standards and explain financial
crises in emerging economies, their causes and solutions
44
45
Course Code: ECO 226 Title of the Course: Advanced Econometrics
Prerequisites for Introduction to Econometrics-1

the course:
Objective: The objective of the course is to familiarize the students with Contact
advanced econometric analysis using time series and panel Hours
data.
Content:
1. Auto Regressive and Distributed Lag Models 10
Estimation of distributed lag models - Adaptive Expectations
models - Stock adjustment models - ARDL Models-
Method of instrumental
variables
2. Simultaneous Equation Models
Nature of Simultaneous Equation Models. Problems of 12
Bias, Identification and Simultaneity -The method of
indirect Least Squares - Method of two-stage least squares
3. Time Series Analysis
Spurious Regression, Random Walk Model,
Stationarity, Unit Root, Co-integration, ARIMA, 8
Introduction
Causality test. Introduction to VAR
Models.
4. Panel Data Analysis 10
Cross Section and Time Series data analysis- Fixed Effects
and Random Effects Models. Applications of Panel Data 8
5. Qualitative Dependent variable Regression
LPM, Logit, Probit and Tobit models.
Pedagogy: lectures/ case analysis/assignments/class room interaction/lab
practical’s
ings  Baltagi (2005), Econometric Applications of Panel
Data, John Wiley and Sons, England
 Davidson, J. (2000) Econometric Theory, Blackwell,
USA
 Gourieroux, C(2000) Econometrics of Qualitative
Dependent Variables, Cambridge University Press,
Cambridge.
 Greene, W. (2018) Econometric Analysis, Pearson,
New York.
 Gujarati, D ( 2004 ), Basic Econometrics,
MacgrawHill, New Delhi
 Hasio Chang (2003), Analysis of Panel Data,
46
Cambridge University Press
 Maddala, G.S. & I.M. Kim (1998) Unit Roots, Co-
integration & Structural Change, Cambridge
University Press, Cambridge
 Mukherjee, C., H. White & M. Wuyts (1998)
Econometrics & Data Analysis for Developing
Countries, Routledge, London
 Pattreson, Kerry ( 2000 ) An Introduction to Applied
Econometric: Time Series Approach, Palgrave
Macmillan, New York
 Pattreson, Kerry ( 2010 ) A Primer for Unit root
testing, Palgrave Macmillan, USA
 Wooldridge, Jeffrey M (2002), Econometric Analysis
of cross section and Panel Data, MIT Press, USA
Learning The students will be able to build macroeconometric models
Outcomes using time series data and panel data and estimate the same
using econometric software.
*01 level one courses and 02 level two courses
47

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SYLLABUS OF M.A. ECONOMICS PROGRAMME UNDER CBCS w.e.f.

Sl.No. Codes Paper Number of Credits

CORE COURSES (8)

Course Code: ECC 111 Title of the Course: Microeconomics-1

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for Students must have basic knowledge of microeconomics.

2.Theory of Production and Costs

Returns to scale - Choice of least cost combination of inputs.

4. The Theory of Competitive Market

Pedagogy: lectures/ case analysis/assignments/class room interaction

Course Code: ECC 211 Title of the Course: Microeconomics-1I

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisite for Microeconomics-1

2.Managerial Theories of Firm

Framework of Game theory- two person zero sum game-

Information Economics-Adverse Selection and Moral hazards-

Pedagogy: lectures/ case analysis/assignments/class room interaction

Course Code: ECC 112 Title of the Course: Macroeconomics-1

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for Nil

References/Read  Charles Jones 2014, Macroeconomics, W.W. Norton.

Course Code: ECC 212 Title of the Course: MACROECONOMICS- II

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for Students should have completed Macroeconomics 1 or similar

2. Demand for Money

3. The Supply of Money

4. Money and the Theory of Interest Rates

Learning By the end of the course, successful students are expected to

Course Code: ECC 113 Title of the Course: Public Economics

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for NIL

3. Theory of Public Goods 08

5 Application of Taxation Principles in Developing 08

6. Theory of Public Expenditure:

Pedagogy: lectures/ case analysis/assignments/class room interaction

 Cornes, R. & T. Sandler (1986) The Theory of

Course Code: ECC 114 Title of the Course: Development Economics

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for : Nil

The determinants of fertility – The costs of children –The

Pedagogy: The course will be taught using lectures, discussions, seminars

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for Nil

References/Read  A.C. Chiang, (1995) Fundamental Methods in

Learning By the end of the course, successful students are expected to

Number of Credits: 4 Total Contact Hours:48

Effective from AY: 2018-19

Prerequisites for Nil

Learning By the end of the course, successful students are expected to

Course Code: ECO 117 Title of the Course: Labour Economics